As the baby boomer generation heads into retirement many of them are finding themselves financially unprepared. As a result, many Canadians, including those living on low incomes, are turning to financial coaching programs to help them to achieve financial stability in retirement.

Most financial information and retirement advice available is conceived with middle or higher-income Canadians in mind. When we look at retirement planning from a low-income perspective, however, we can see how mainstream information and advice doesn’t always apply and can actually be harmful to the overall well-being of Canadians approaching retirement age or already retired.